S&P 500 Index: Not a lot scope for markets to rally within the close to time period – UBS

Markets are off to a stable begin in 2023. World equities (MSCI All Nation World Index) have gained 5.1% year-to-date, with Europe’s Stoxx 50 climbing 8.6% and the S&P 500 rising a extra modest 3.5%. The large query now could be whether or not the rally will show sturdy, economists at UBS report.

S&P 500 worth targets are 3,700 and 4,000 for June and December

“We do not see a lot scope for markets to rally within the close to time period, particularly given our outlook for continued strain on company revenue progress.”

“Our June and December S&P 500 worth targets are 3,700 and 4,000, respectively, versus 3,972 on the finish of final week.”